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Target Marketing for Millennials in the Financial Industry

How do you get millennials’ attention? Meet them where they are: Social media and video. LPL discusses their tools and how to use them, to get their attention.

The post-pandemic world has provided a unique opportunity for advisors to leverage video as a convenient alternative to in-person client meetings, as well as a marketing tool.

According to the Pew Research Center, millennials have overtaken baby boomers as America’s largest generation1. Typically defined as someone born between 1981 and 1996, millennials comprise roughly one-third of the total population. Poised to inherit significant assets from the largest generational wealth transfer in history, while simultaneously approaching key milestones like buying a first home, getting married, and starting a family, they’re arguably the most strategic group for financial advisors to engage. But how do you get their attention?  

It’s no secret that millennials are well-versed in social media. After all, their connection to technology is a hallmark of their generation. We recommend that you begin by building a strong presence on platforms like Twitter, LinkedIn, and Facebook. If you’re not sure how to start, check out our social media workbooks and social media content library. We’ve partnered with Gainfully to provide timely and easily-shareable articles and infographics. This resource also enables you to schedule and queue posts that will automatically be shared to your chosen social media platforms.

Another popular format with millennials is video. The post-pandemic world has provided a unique opportunity for advisors to leverage video as a convenient alternative to in-person client meetings, as well as a marketing tool. The pre-approved video scripts available in Marketing on Demand are a great place to start for content ideas. All you need is a smartphone, a ring light for optimal lighting, and a lapel microphone for the best audio results. To publish your videos, upload them directly onto your approved social media pages and the Social Patrol compliance monitoring tool will review as you post. As you test different tactics to see what resonates most with your followers, keep in mind that our team is here to help. Please feel free to reach out via phone 800-877-7210, option 9, option 5, option 1 or email at [email protected] with any questions. 

https://www.pewresearch.org/fact-tank/2020/04/28/millennials-overtake-baby-boomers-as-americas-largest-generation/

Questions and Consultations

If you have questions or would like to schedule a one-on-one consultation, or if you’d like to subscribe and receive email alerts when new articles become available, contact LPL Marketing Consulting at (800) 877-7210, Option 9, Option 5, Option 1, or email Marketing Consulting.

If you’re interested in a digital marketing strategy that is executed on your behalf, please visit LPL Business Solutions Discover Marketing to complete the form, and a member of their team will be in touch with you directly.

Consult your compliance department for information about the rules and use of social media and the review of all advisor marketing materials.

author card for katie petit

Katie enjoys all things social media and you will often find her researching all of the latest and greatest trends. View full bio.